According to Eleanor Terrett, more than 60 modifications to the Act on Engineering have been launched so far, and the Republicans and Democrats of the Senate are now reducing this list to a more manageable number.
If they are able to conclude an agreement, Terrett says that the bill could see the Senate soil before the end of the week. Otherwise, procedural obstacles will probably slow things down and push the potential final passage in next week.
🚨New: the updated text of @SenatorhagetyThe Stable Bill – The Act of Engineering – fell.
The screen in the PDF and noticed the section on the “reciprocity for the payment of the payment stages issued in the courts abroad” was extended beyond the February text to include “reserve … pic.twitter.com/b1sdfgs9c5
– Eleanor Terrett (@elean branch) March 10, 2025
Negotiations on the Genie Act warm up in the Senate
According to sources familiar with the procedure, the sponsors of the engineering bill are trying to reach a unanimous consent agreement which would allow votes on a series of amendments without going through the complete bell process.
Such a package would include the Bipartisan Stablecoin frame and could also integrate several related proposals.
Some include new disclosure requirements for government officials holding stabbed (a priority for the Democratic Senator Adam Schiff in California); a ban on the Chinese opponent and foreign to the property of the stablecoin issuers (driven by the republican senator Tommy Tuberville de l'Alabama); And the reforms of the Bank Secrecy Act and anti-money laundering rules, supported by the republican senator Mike Lee of Utah.
The best democrat of the senatoric banking committee, senator Elizabeth Warren, should also put pressure on certain amendments.
However, the biggest to monitor could be the law on meaning credit card competition. Roger Marshall (R-KK) and Dick Durbin (-I-I)-a controversial measure strongly opposed by banks and card networks that could reshape the credit card industry by forcing greater competition between payment processors.
Marshall would be categorical about having a vote, which could potentially have a wider agreement derail. Meanwhile, Senator Thom Tillis of North Carolina has already declared that he would withdraw his support for the law on genius if the CCCA was attached.
Like Terrett notedIf all the parties reached an agreement, the Senate could move quickly – with votes on the bipartite agreement and other amendments, followed by a limited debate and a last adoption of the Act on genius potentially before the end of the week.
But if no agreement is concluded, the final passage could be pushed in the week of June 9. As it is the upper room, deadlines can change quickly in the event of unanimous consent, but as things arise, the Senate employees say that the path to follow remains “fluid”.
Stablecoin legislation delaying Wall Street giants to pump billions in the crypto
If the law on engineering is ultimately signed, it would establish a framework to emit staboins legally in the United States.
Stablecoins, crypto tokens generally fixed to the US dollar, allow holders to enter and leave digital asset transactions without directly accessing fiduciary currencies. They are also useful for sending payments and funds through borders.
Many predict that the moment when stable legislation is adopted, once Wall Street giants will flood the sector, bringing billions of dollars, even Billions, in crypto with them.
According to a new survey of the CEDAR Innovation Foundation for non -profit, linked to the FAIRSHAKE Super PAC, the pressure rises on the legislators to quickly move to cryptographic legislation.
The survey of 1,825 voters registered in 20 districts of the highly competitive congress, conducted by the change of research, shows an overwhelming support for the congress in order to promulgate new laws specifically adapted to digital assets.
The survey saw that 58% of voters say that existing financial regulations have not reduced it with regard to crypto, with only 15% of current laws (intended for stocks and obligations) are appropriate.
Meanwhile, 74% want Congress to create “clear road rules” that protect consumers and encourage innovation, while 61% support the new Federal Crypto laws, with support through parties.
The survey has covered districts like CA-45, NY-03, TX-34 and VA-07, signaling the possibility of legislators in tight breeds to feel the heat of voters who want clarity on the crypto.
CIF spokesperson Josh Vlasto marked the conclusions “a clear mandate” and warned that the momentum of the 2024 elections has not faded.
“With a strong support for democrats and keystands like young men and color voters, these results demonstrate feeling across the country and on Capitol Hill that this problem is not unique, but is a major concern for many Americans,” he said. “Congress must act now.”
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